Upside sentiment dominated the New Zealand Dollar against the US Dollar on Friday. The exchange rate gained about 105 base points during Friday’s trading session.
Most likely, it is expected that the currency pair maintains its upward momentum today. However, bearish traders could push the price towards a support cluster formed by the combination of the weekly and the monthly pivot points at the 0.6800 area within this session.
A potential upside reversal is likely to occur if the support cluster as mentioned above holds.
